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'90 Reatta Sold - Barrett Jackson


dship

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Folks,

Want to inform that a 1990 Reatta convertible, white w/ red interior sold at the Barrett-Jackson auction in FL for $24k today. They didn't mention if it was a select 60 or not but it had the 16" white painted rims and a design similar to the 16" on a '91. Was that an option for '90? - I'm familar with Rivieras more so than Reattas.

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Based on the information available, I am sure this is the Select Sixty from the GM Heritage collection. It would be vin 904434...we don't know the mileage.

Last November in Las Vegas, GM sold the last Reatta convertible (1991) from their collection, that was vin 900622 a black car with red interior, it had 81 miles and sold for 18,500 (no title) in my opinion, this is a more significant car than the Select Sixty.

I will check my records but they only have the last Reatta built (a 1991 red coupe vin 901554) and maybe another Reatta remaining in the collection.

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I recieved this in my email, then went to B-J site to confirm. There is no mention of which cars prompted this action from NTHSA, but the '90 drop-top sold was a GM heritage car, used for display. Looks like B-J and GM are in deep doo-doo over the sale of this Reatta!!!!!

West Palm Beach, Florida: Midway through Friday's collector car sale, representatives of the National Highway Traffic Safety Administration (NHTSA) forced Barrett-Jackson to stop the sale of certain cars from the GM Heritage Fleet. Our sources tell us that this order from NHTSA was completely unexpected; Barrett-Jackson and GM have been extremely careful to note, in written material posted on the cars, which GM cars are sold on "salvage titles" or similar, and cannot be registered. Apparently, despite this, NHTSA is concerned that someone "might try" to register the cars for the street.

["GM and Barrett-Jackson are attempting to resolve this so that the cars, which have been heavily publicized and have drawn bidders from across the nation, can be sold. Unfortunately, discussions are hampered by the fact that the relevant NHTSA offices are closed for the day, and reportedly will be closed tomorrow as well."]

Goto B-J site, and read the description for Lot 11.1, Palm beach 2009 for details. The B-J description even states this was a heritage car, and used only for display. This could imply there was never a title available to start with. It's likely non-NTHSA-compliant, and is not authorized to be driven or licensed.

If GM depreciated this car over the years they held it, would'nt GM have to pay tax on the income generated by a car already written-off to $0 value???

A little more info for your database and search, Barney!!

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Randy, your note does bring up the possibility that the cars have a shady accounting background.

The 1991 convertibles that were donated to the tech schools were probably written off as donations in 1991 (45 convertibles with an MSRP of roughly $36,000 each = $1,575,000 I doubt they could write off the MSRP only the cost on the books.

These cars being auctioned could have been handled in a similar way. What I don't know.... did GM make the Heritage Collection a not for profit corp? We have heard that the Heritage Collection has little money (budget) and has stopped sending cars to show. The BCA is fortunate to have a committment from Buick (which is paying the transportation) to supply Heritage car at Colorado Springs.

This might get interesting if the IRS gets involved...then again, since the goverment has their nose deeply buried in GM maybe IRS interest would be non existant.

This could be interesting.

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Where does it mention the Heritage Collection ? Description says very little about the specific car. The quote is "THIS IS A HISTORICAL VEHICLE. NEITHER GM NOR BARRETT-JACKSON MAKE ANY WARRANTY OR REPRESENTATION OF ANY KIND, EXPRESS OR IMPLIED, CONCERNING THE VEHICLE, INCLUDING NO WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. BUYER WILL TAKE POSSESSION OF THIS VEHICLE 'AS-IS.' THIS VEHICLE HAS BEEN USED PRIMARILY FOR STATIC DISPLAY AND BUYER IS RESPONSIBLE FOR ENSURING THAT THE VEHICLE COMPLIES WITH ALL APPLICABLE LAWS AND REGULATIONS PRIOR TO ANY USE OF VEHICLE ON PUBLIC ROADS."

The only unusual thing is the inclusion of GM in the disclaimer. Also there is no mention that there is anything odd about the title (other cars have specific mention if there is only a Bill of Sale or a restrictive title).

Question in my mind is whether this is a real Select Sixty or a diffferent car with SS equipment. (Buick probably had one or more engineering mules used for display and design decisions).

Can see where some of the other cars may have had non-conforming equipment or not meet safety standards (some were listed as for off-road use only or having salvage titles) but there was no indication that the Reatta was one of these.

Looking at the rest of the cars at the aution, average prices on the ones that sold seemed low but maybe because they did not seem to be particularly interesting cars.

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Breaking News: Government Halts Barrett-Jackson Sale of GM Cars

West Palm Beach, Florida: Midway through Friday's collector car sale, representatives of the National Highway Traffic Safety Administration (NHTSA) forced Barrett-Jackson to stop the sale of certain cars from the GM Heritage Fleet. Our sources tell us that this order from NHTSA was completely unexpected; Barrett-Jackson and GM have been extremely careful to note, in written material posted on the cars, which GM cars are sold on "salvage titles" or similar, and cannot be registered. Apparently, despite this, NHTSA is concerned that someone "might try" to register the cars for the street.

GM and Barrett-Jackson are attempting to resolve this so that the cars, which have been heavily publicized and have drawn bidders from across the nation, can be sold. Unfortunately, discussions are hampered by the fact that the relevant NHTSA offices are closed for the day, and reportedly will be closed tomorrow as well.

For updates, go to the Barrett-Jackson web site, www.barrett-jackson.com

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Since I was not at the auction, I cannot say precicely that this is..... Over the years, I have seen many of the GM cars (mostly Buicks) at the BCA national meet. Buick has been very supportive of the Buick club and has always contrubited cars and funds to support the club (which may go away)

I first saw the GM owned Select Sixty at the St Louis national meet in 1998 (I think) it was the first Select Sixty I have ever seen and I recorded the vin.

A Select Sixty could be cloned or duplicated but the white interior panels would be hard to come by...if they were painted, they would not be white under the paint. We also have identified all 65 of the originals by vin number (see the database. We do not know where they all live or who ownes them but a clone would need to be in the vin range and even then we could detect a fake...the only outside possibility would be duplicating a know destroyed Select Sixty...and using that cars vin number.

GM created the Heritage collection back around 2000 when they closed "Buick city" in Flint and reorganized the divisions. Before that time, every division has their own collection of cars tucked away and they also controlled them. They budgeted for them and had crews to maintain them. Some bean counter showed management it would be more efficient to put them all together and not duplicate the efforts.

This past July, the BCA made arrangements for bus tours of the collection during the national meet. I was able to take that tour and we were turned loose in one building which has an easy 140 cars.... it was short on Buicks because there were about 12 in Flint under a tent.

Below is one photo taken last July at the Heritage collection...I used this one as Padgett might find it of interest.

post-30596-143138062038_thumb.jpg

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For example Lot: 112 - 2000 OLDSMOBILE INTRIGUE OSV #2 Aurora contained this disclaimer "THE VEHICLE IS NOT CERTIFIED TO COMPLY WITH ANY FEDERAL, STATE OR LOCAL LAWS, RULES OR REGULATIONS AND MAY NOT BE DRIVEN ON PUBLIC ROADS. THIS VEHICLE WILL BE CONVEYED TO BUYER WITH A "SCRAP" TITLE."

Several were like this (e.g. 1995 Glass Roof Aurora, 2004 GTO) and I suspect that these are the cars NHTSA has a problem with.

These also apparently were not sold since no sale price appears.

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ANYTHING IS POSSIBLE!

It just seemed fishy to me.

There is no odometer reading offered at B-J website, nor mention of title for this car. The historical reference implies hertiage car, IMHO.

If not, then where did it come from? What IS the VIN?

The buyer got a good deal, (if it is a Heritage car, with NO miles), considering sticker price is better than $10,000 higher.

AND..... most importantly-

WHEN will we see the owner show up here, at AACA, or a BCA event?????

I'd like to offer a warm welcome to the new owner, and sponsor their membership in BCA/Reatta division.

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Breaking news, Jon! I just got this email from SCM, and wanted to share it with y'all.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> GM Cars Back for Sale at B-J

West Palm Beach, Florida: The following statement was released by Barrett-Jackson this morning: "The Acting Administrator of NHTSA, Ron Medford, has communicated to Barrett-Jackson that previous issues concerning the sales of the GM Collection have been resolved and all sales can go forward."

Reportedly, negotiations between GM, Barrett-Jackson and NHTSA led to an agreement, emphasizing that the cars being sold on "salvage" or "not able to be registered for the road" status were under no circumstances to be registered for road use.

Midway through Thursday's collector car sale, representatives of the National Highway Traffic Safety Administration (NHTSA) forced Barrett-Jackson to stop the sale of certain cars from the GM Heritage Fleet, due to concerns about buyers attempting to register non-qualifying vehicles for street use.

Find out more about Barrett-Jackson, NHTSA, and GM.</div></div>

I'm glad to see this issue has been resolved, these cars need to be available to collectors, whether they can be titled/driven, or not. If GM were forced to actually turn them in for scrap metal recycling, it would be a shameful day in automotive history.

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<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Last November in Las Vegas, GM sold the last Reatta convertible (1991) from their collection, that was vin 900622 a black car with red interior, it had 81 miles and sold for 18,500 (no title) in my opinion, this is a more significant car than the Select Sixty. </div></div>

Yup, Black Beauty's little sister, the only other documented Black/Flame Red '91 left of only SEVEN built.

She now resides in the private collection of Nicola Bulgari, world-renowned jewelry designer, who designed dash elements for the XLR. I met his rep. at the 2008 BCA Nationals Banquet, thanks to Daves89. Mr. Bulgari had a different '91, but let it go and acquired this EXTREMELY RARE car, the last handcrafted Reatta convertible. He likes to collect the last-made of any car line. And, with his relationship with GM, he got a barn-burner of a deal, at 1/2 original sticker price, for a truly PRICELESS car. I paid MORE than that for Black Beauty!

Those who've visited the Sloan Museum, on the 2008 BCA show grounds, saw a part of Mr. Bulgari's collection. ALL the cars at the Sloan during the show were HIS!!!

I wonder how much he'd sell her for.?.???????

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Way back (maybe around 1999) I learned that Mr. Bukgari reportedly had the last coupe and convertible built. Through some BCA contacts, I was able to contact the fellow in Allentown that oversees his cars in the US.

They were very helpful and gave me the vins of the cars and they were not the last cars built. Since that time he sold the 1991 convertible he had and it resides in Phoenix and is for sale. I do not know if he still has the coupe.

It is interesting to learn that he now own 900622.

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